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Apple Expects Profits, Sales
To Come In Below Estimates

By

Pui-Wing TamStaff Reporter of The Wall Street Journal

Updated June 19, 2002 12:23 a.m. ET

Apple Computer Inc., joining a growing list of technology companies that say they won't meet earnings' estimates, warned it will miss its quarterly profit projections by about 10% and said its sales for the period will be 9% below forecast.

The warning sent Apple's shares down 14% to $17.30 in after-hours trading. Apple's shares fell 39 cents to $20.15 in 4 p.m. trading on Nasdaq.